Citizens analyst Aaron Hecht downgraded Marriott Vacations (VAC) to Market Perform from Outperform without a price target following the Q4 report. The company’s turnaround pitch to investors has not changed under the CEO, the analyst tells investors in a research note. The firm believes Marriott Vacations’ board should have explored some strategic alternatives given the stock was down 60% over the three-year tenure of the prior CEO. “We have no idea how much dysfunction remains within the organization today,” contends Citizens.
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